Chicago, May 08, 2023 (GLOBE NEWSWIRE) -- In vitro fertilization (IVF) is an established industry that has been growing rapidly in recent years and is expected to continue to do so in the near future. Key drivers of growth include an increase in infertility rates, advancements in technology, and greater acceptance of IVF as a viable treatment option. The IVF industry is also seeing a trend towards greater use of genetic testing, which can improve the chances of success by identifying the healthiest embryos for transfer. Additionally, there is a growing demand for more personalized IVF treatments that take into account factors such as age, medical history, and lifestyle. The industry is also focusing on reducing the costs and improving the efficiency of IVF procedures, with the development of new devices and techniques. Overall, the IVF industry is expected to see continued growth and innovation in the coming years as it strives to meet the needs of couples seeking to start families.
In Vitro Fertilization market in terms of revenue was estimated to be worth $638 million in 2021 and is poised to reach $987 million by 2026, growing at a CAGR of 9.1% from 2021 to 2026 according to a latest report published by MarketsandMarkets™. Factors such as growth in the median age of first-time mothers, global decline in the fertility rates, increasing male infertility, rise in consumption of alcohol and cigarettes, growing public awareness about infertility and the available treatment options, implementation of government initiatives to promote IVF treatments, and the introduction of new and advanced IVF products are likely to fuel the growth of the IVF market during the forecast period. Moreover, the significant rise growth in fertility tourism and growing adoption of assisted reproductive technology is another factor that is expected to provide growth opportunities for players in the market.
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In Vitro Fertilization Market Scope:
| Report Coverage | Details |
| Market Revenue in 2021 | $638 million |
| Estimated Value by 2026 | $987 million |
| Growth Rate | Poised to grow at a CAGR of 9.1% |
| Market Size Available for | 2019–2026 |
| Forecast Period | 2021–2026 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, cycle, Type, End user |
| Geographies Covered | North America (US & Canada), Europe (Germany, the UK, France, Italy, Spain, and RoE), APAC (Japan, China, Australia, South Korea India, and the RoAPAC), LATAM (Brazil, Mexico, and RoLATAM), and MEA |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunity | Increasing Medical Tourism in Emerging Nations |
| Key Market Drivers | Growth in median age of first-time mothers |
On the basis of products, the in vitro fertilization market is classified into equipment, reagents & media and accessories. The equipment segment held the largest share owing in presence of well-established players offering advanced equipment’s for infertility treatment, growing acquisition & partnership among players to launch new equipment in the market and initiatives by government to boost the accessibility of the in vitro fertilization equipment.
The in vitro fertilization equipment market is further segmented into This market is further divided into sperm analyzer systems, micromanipulator systems, laser systems, imaging systems, ovum aspiration pumps, sperm separation devices, incubators, cryosystems, cabinets, gas analyzers, anti-vibration tables, witness systems, and other equipment. The imaging systems segment commanded the largest share of the in vitro fertilization equipment market in 2020 due to technological advancements and increasing applications of imaging systems in IVF procedures.
Based on the type of cycle, the IVF market is segmented into fresh non-donor, frozen non-donor, fresh donor, and frozen donor IVF cycles. The fresh non-donor IVF cycle segment is estimated to account for the largest market share in 2021. Factors such as high success rates, easy implantation process, and enhanced embryo production are responsible for the large share of this market segment. However, the frozen non-donor cycle segment is projected to register higher growth during the forecast period, as this approach is highly preferred in cases where only a small number of eggs or embryos develop during one cycle, or if the patient needs to undergo any medical treatment, or if the patient prefers to delay childbirth.
Based on the type, IVF market is segmented into Conventional IVF, IVF with ICSI, IVF with donor eggs, and others. IVF with ICSI procedure anticipated to grow at a significant rate during the forecast period owing to the success rate of fertilization with ICSI procedure, and the growing utilization of the ICSI during IVF procedure and presence of well-established market players with a wide range of IVF product offerings.
Based on end user the in vitro fertilization market is classified into fertility clinics, hospitals and surgical centers, research institutes, and Cryobanks Fertility clinics form the largest end-user segment in this market and are expected to witness the highest growth during the forecast period. This can be attributed to factors such as rising government initiatives to establish fertility clinics, initiatives taken by large international healthcare providers, and the increasing popularity of IVF treatments worldwide.
The in vitro fertilization market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Asia Pacific is expected to account for the largest share of the in vitro fertilization market in 2021. This is attributed to the factors such as rising medical tourism in Asian countries, increasing healthcare expenditure, rising medical tourism, and growing awareness among people about IVF treatment are supporting the growth of the in vitro fertilization market in the region.
Key Market Players:
Some of the prominent players operating in the global infertility treatment market include The Cooper Companies Inc. (US), Cook Group (US), Vitrolife (Sweden), Thermo Fisher Scientific, Inc. (US), Esco Micro Pte. Ltd. (Singapore), Genea Limited (Australia), IVFtech ApS (Denmark), FUJIFILM Irvine Scientific (US), The Baker Company, Inc. (US), Kitazato Corporation (Japan), Corning Corporation (US), Hamilton Thorne Ltd. (US), ZEISS Group (Germany), FERTIPRO NV(Belgium), and Eppendorf (Germany).
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Hypothetic Challenges of In Vitro Fertilization Market in Near Future:
- Cost reduction of IVF treatments
- Ethical and legal issues surrounding the use of genetic testing and embryo selection
- Compliance with regulations related to genetic testing, embryo storage, and disposal
- Overcoming social stigma and educating the public on the benefits of IVF
- Addressing the shortage of skilled professionals in the IVF field
- Finding ways to increase the success rate of IVF procedures and reduce the number of cycles needed
- Dealing with the potential impact of new technologies on the IVF market
- Adapting to changes in healthcare policies and insurance coverage for IVF
- Addressing the emotional and psychological challenges that couples face during the IVF process
- Ensuring equitable access to IVF treatments for all couples, regardless of their socio-economic status or geographic location.
Top 3 Use Cases of In Vitro Fertilization Market:
- Infertility treatment: IVF is primarily used to help couples who are experiencing infertility due to a variety of reasons such as blocked fallopian tubes, low sperm count or poor quality, endometriosis, or unexplained fertility issues. IVF treatments help increase the chances of successful fertilization, embryo development, and implantation.
- Genetic screening and diagnosis: IVF also enables genetic screening and diagnosis of embryos before implantation, helping to identify and prevent genetic disorders or chromosomal abnormalities that could lead to miscarriages or genetic diseases.
- Fertility preservation: IVF can be used for fertility preservation for those undergoing medical treatments that could potentially damage their reproductive systems, such as chemotherapy or radiation therapy. Eggs or embryos can be frozen and stored for future use, providing a chance for couples to have a child later in life when they may not be able to conceive naturally.
Recent Developments:
- In 2021, Hamilton Thorne Ltd. received FDA approval for the commercialization of the GYNEMED GM501, a ready-to-use medium designed for in vitro washing and handling procedures of human oocytes and embryos in the US and Europe.
- In 2021, CooperSurgical announced a partnership with Virtus Health to strengthen its fertility technology, increasing the accessibility of advanced treatment to infertile couples.
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